When Houston exploration-and-production company Frontera Resources Corp. went public in 2005, it raised close to $90 million in an initial public offering on the Alternative Investment Market in London instead of on the NASDAQ stock exchange in New York City.
Frontera had a number of reasons for choosing the London Stock Exchange’s AIM over NASDAQ, says Scott Harper, Frontera’s general counsel. One important consideration was the ability to avoid the cost of complying with U.S. Securities and Exchange Commission rules as well as Sarbanes-Oxley Act of 2002 regulations that apply to public companies in the United States.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
